A senior minister confirmed that a small group of former officials, including state premiers and judges, will be exempt from Labor’s plan to roll back tax concessions on superannuation balances over $3 million. Critics argue that the proposal’s lack of indexing may inadvertently affect more Australians over time due to inflation. Environment Minister Murray Watt emphasized that while the tax concessions for high superannuation balances will be reduced, it will not violate constitutional protections against taxing certain earnings.
